Flutter Entertainment price target raised to $323 from $301 at Citizens JMP

Citizens JMP analyst Jordan Bender raised the firm’s price target on Flutter Entertainment (FLUT) to $323 from $301 and keeps an Outperform rating on the shares. The online gaming sector has been hit by a long list of negative headlines, including higher taxes, slowing handle growth, a lack of state legalization, a lack of confidence around hitting financial targets, and regulation, at a time when bad sport outcomes have resulted in negative estimate revisions in four of the last five quarters, but despite all the negatives, online gaming companies are up 15% year-to-date on average, only trailing cruise as the best-performing consumer discretionary sector, the analyst tells investors in a research note.